BTIG analyst Julian Harrison maintained a Buy rating on Protagonist Therapeutics yesterday and set a price target of $82.00.
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Julian Harrison’s rating is based on the promising outlook for Protagonist Therapeutics, particularly due to the early submission of the NDA for icotrokinra in psoriasis, which is expected to gain FDA approval by mid-2026. This drug is anticipated to become a leading oral treatment option in the primary care setting, especially for adolescents who currently have limited approved options. The efficacy and safety profile of icotrokinra are considered superior to existing oral treatments, making it a strong candidate for widespread adoption.
Moreover, Protagonist Therapeutics stands to benefit financially from potential milestone payments and royalties, with expectations of up to $155 million between 2026 and 2028. The company’s strategic positioning and the ongoing Phase 3 trials further bolster confidence in its future performance. These factors collectively contribute to the Buy rating, reflecting optimism about Protagonist Therapeutics’ growth prospects and market potential.
In another report released yesterday, Wedbush also maintained a Buy rating on the stock with a $70.00 price target.
PTGX’s price has also changed dramatically for the past six months – from $38.100 to $55.220, which is a 44.93% increase.